Spring 2003 Trust Account Caravan

March 18 - April 30 In Seven Cities

By Gary R. Caddell, Senior Auditor/Investigator, Training Officer

The Spring 2003 Trust Account Caravan is scheduled for March 18 through April 30 with seven stops in Asheville, Boone, Fayetteville, Greensboro, Huntersville, Kill Devil Hills, and Wilmington.

To register, go the Commission’s website, www.ncrec.state.nc.us, or use the form with dates and locations on page 10. Class size is limited to 40 participants and early registration is advised.

The “Basic Trust Account Procedures” course is updated to include rule changes that went into effect September 1, 2002. While this course is intended for brokers-in-charge and trust account bookkeepers, all licensees may attend. The course provides instruction in the preparation of trust account records and the reconciliation process. Related topics include the proper handling of owner/broker trust funds and the Tenant Security Deposit Act.

The “Trust Account Procedures for Resort Property Managers” course covers issues specific to resort property management, such as the Vacation Rental Act and sales taxes. This course is updated to reflect recent rule changes. The course is offered only during the Spring Caravan. Because this course focuses on issues specific to resort property management, the Commission strongly recommends that you attend the Basic course prior to taking the Resort Property Managers course.

Both courses were developed and are taught by members of the Commission’s Audits & Investigations Division. Each course counts as four hours of elective continuing education credit.

For the third year in a row, the Real Estate Commission’s Trust Account Caravan set a record for the number of attendees. A total of 593 course attendees participated in the Spring 2002 Trust Account Caravan, compared with 570 in 2001, 505 in 2000 and 291 in 1999.

The Spring 2002 Trust Account Caravan made stops in Asheville, Boone, Charlotte, Fayetteville, Greensboro, Kill Devil Hills, Morehead City and Wilmington. Eleven “Basic Trust Account Procedures” courses and five “Trust Account Procedures for Resort Property Managers” courses were offered.

Held annually, the Caravan was instituted by the Commission in 1982 to provide courses to those who cannot attend one of the monthly courses held in Raleigh. [Note: For registration information, please refer to page 3 of this Bulletin.]